@Perry Mowbray: I was able to make the runtime work locally by including the manifest in the install, so if you download the portable install now, it should work without needing to install the runtime.
I also created a new install for people who want the runtime local to the app and not installed SxS in system32, as MS would have you do it
Let me know if you see any problems...
-ChalkTrauma
Should have replied here before... sorry... absolutely not problems now